BBC: "UK economy will contract 0.3% in 2012, says CBI"

Link to BBC web site

"The CBI, the lobbying organisation for big business, has cut its growth forecast for the UK economy "to reflect weaker economic conditions".

"It expects UK gross domestic product (GDP) to contract by -0.3% in 2012, it said in a statement.

"... But it said the economy would recover slightly in the second half of year and rise 1.2% in 2013, down from an earlier forecast of 2%."